"In the case of the Kinetta, Drake, Obin's camera, etc., though, the files are already digitized on the hard-drive of these cameras, so you don't have to worry about that. The only issue is to have them in a Quicktime or AVI file format that can support 10-bit or greater RGB 4:4:4."

That is the part where I really get lost.

If I were to use one of those cameras, I wind up with a hard drive with 10bit log files on it. What do I use to then transcode those log files into an AVI or Quicktime format which I can edit in FCP or Avid?

Once they are transcoded, is there any need to go back to those log files for an 'online,' or are my Quicktimes treated as the 'masters' from that point on (for color correction, etc)?

I'm just trying to understand the workflow, before I find myself in a position where I may have to use it.

I also found out in the meantime, according to a friend of mine, that AE can read DPX files...which means in theory I guess you could use AE to render out Quicktimes (although that would be pretty time intensive).